During the two-month period of April and May 2023, 756,000 square meters of new industrial construction began nationwide. The greatest construction activity was observed in Monterrey, Querétaro y Ciudad Juárez, which started industrial works for 174,000, 135,000, and 102,000 square meters, respectively.

If the total number of works under construction at the end of May is reviewed, a little more than 5.2 million square meters are advancing in Mexican territory, where the eight markets that make up the northern region group 70% of the industrial works. Monterrey is in the lead with just over one million 590 thousand square meters followed by Tijuana and Mexico City with 585 and 509 thousand square meters, respectively.

Check here: Monterrey continues to lead industrial demand nationwide

If we compare what is being built in industrial buildings nationwide in May 2023 with what was being built a year ago, the figure seems similar, however demand has grown by more than 16% in annual terms during the first five months of 2023 .

According to recent statements by Javier Llaca, director of operations and acquisitions of Fibra Mty, the country would need between 12 and 15 million square meters of industrial space to satisfy the demand generated by nearshoring.

The manager points out that the unprecedented dimension that the relocation of companies has generated has created a deficit in the available space where the offer is insufficient for the demand that is generated.

On the other hand, the vacancy at the national level would be around one million five hundred thousand square meters, according to figures reported by the Solili platform at the end of May 2023, where 40% of this availability is located in the northern region and 35% in the lowland area.

Of interest: Industrial demand from January to May in Baja California doubles that registered in 2022

Crossing these indicators, it is evident that more than double what is currently being built is required, which will not only meet demand but also boost the growth rate of the Mexican economy.

In recent statements by Rodrigo Parral, General Director of Productivity Policy and Projects of the Ministry of Finance and Public Credit, he indicated that the relocation of supply chains to Mexico could increase the growth of the Gross Domestic Product or Mexican GDP between 1.2 to 2.8 points percentage.

In turn, these investments would have redistributive effects that would be generated by investments in infrastructure that would make connections that did not previously exist between various municipalities and regions.